Buy low sell high same old game , volatility make people money . You just need to understand and know how to trade ( would you buy gold for $1800 and Silver at $40?) nothing different for any other asset . Did I buy bitcoin into 80% correction? Yes !! Have I been accumulating silver at this level? Yes!!
Which crypto currency becomes the future payment system
- Thread starter bron.suchecki
- Start date
Zucker Bucks? I doubt that.
People will use it if they have faith in it. FB however doesn’t inspire faith. Maybe they’ll come up with strategies to incentivise its adoption. I haven’t read the whitepaper, it’s not been something that has interested me.
I won't underestimate Libra. Facebook wanted to create a mobile payment network the likes of Tencent's Wechat Pay. Wechat Pay is extremely successful in China and is even more popular than credit cards and threatens banks. Facebook with it's messenger and whatsapp and combined nearly 3 billion users is the only company in the world that can create a global wechat pay.
I wonder why it took so long for him to do it? Answer - he is not satistifed with just a payment network, he wants to issue his own currency and had been preparing for it. Mark Zuckerberg is more than just a geek or businessman - he wants to be the emperor.
Some analysts are saying that Libra will boost crypto awareness and may even drive consumers to true cryptocurrencies. So rather than being a threat, it is a positive move.
The argument goes that by FB adopting a digital currency for remittance, it both validates the concept of cryptocurrencies while also raising questions about the function of central banking and government issued fiat. They argue that as these consumers become aware of the failings of our centralised systems it may very well increase the demand for decentralised, trustless DLT currencies, something that Libra is definitely not going to be.
It’s crystal ball gazing I know, but it’s interesting nonetheless.
The argument goes that by FB adopting a digital currency for remittance, it both validates the concept of cryptocurrencies while also raising questions about the function of central banking and government issued fiat. They argue that as these consumers become aware of the failings of our centralised systems it may very well increase the demand for decentralised, trustless DLT currencies, something that Libra is definitely not going to be.
It’s crystal ball gazing I know, but it’s interesting nonetheless.
Flip the Z ....
Or is this the US Govt / DoD - DARPA having a bet in case the current system falls over?
It will be an extension of the US dollar system. All the major backers are American companies. Libra is going to achieve what one road one belt tried to achieve but failed and at almost no costs. Many developing countries have issue with banking and currency depreciation. If you have a mobile app wallet that is backed by all major currencies (maybe even gold), imagine the demand for it. Venezuelans are going to switch to this wallet. Mark suckurbucks is a genius.
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Libra is *much* bigger than just Facebook. The fact that VISA, Mastercard and PayPal are on board gives you some idea. Control has been handed off to the Libra Consortium. Of course Congress choked on their wheaties and are already calling for investigations into Facebook launching a currency.
Basically it's likely to be the world's first genuine international corporate currency not issued by any central bank or treasury - so of course that's a threat to government control of fiat currencies. France and the UK are already calling for it to be regulated before it even launches.
Looking at the reserve model it's still likely to be an inflationary currency, with interest earnings on the underlying fiat reserves being used for cost offsetting. It's not going to be a capital gains type cryptocurrency like Bitcoin, it's meant to be a stable coin, but subject to the same inflation as the underlying reserve.
Basically it's likely to be the world's first genuine international corporate currency not issued by any central bank or treasury - so of course that's a threat to government control of fiat currencies. France and the UK are already calling for it to be regulated before it even launches.
Looking at the reserve model it's still likely to be an inflationary currency, with interest earnings on the underlying fiat reserves being used for cost offsetting. It's not going to be a capital gains type cryptocurrency like Bitcoin, it's meant to be a stable coin, but subject to the same inflation as the underlying reserve.
If the reserve is fiat, will it be 1:1 or will it be unregulated? If unregulated it will just be Monopoly money with little or no worth as it can just be created at will. If regulated, it will be in effect just another international currency with the same stigmata as fiat.
Radix broke over 1M transactions per second on its node test last week.
They posted a comparison between it and Libra:
They posted a comparison between it and Libra:
Zuckerbucks is a secretive guy, he doesn't reveal all his cards or his next step.
Fb is building a 2 million sq ft data centre in Singapore. I was thinking, wtf is he doing? You put in 80,000 racks in this space. Each rack can have 10-30 servers. Now it's clear.
Even if Libra can process a million transactions a second, he will say 1000 only because this will scare the shit out of regulators and visa/mastercard.
https://www.reuters.com/article/us-...-asian-data-centre-in-singapore-idUSKCN1LM051
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This now looks too cheap - https://www.forbes.com/sites/parmyo...closes-19-billion-whatsapp-deal/#68145eee5c66
Of course they can. Because they’re massively centralised. They’re also much less secure than Bitcoin.
Massively? That’s a bit subjective. So what do you call XRP and Libra then?
I can’t comment on security, please explain in layman’s terms why Tempo is less secure than whatever BRC uses.
I can’t comment on security, please explain in layman’s terms why Tempo is less secure than whatever BRC uses.
Layman’s terms.
Bitcoin is the most secure crypto by a long way. Other “fast” coins are simply sacrificing security for speed.
I could create a single server that would perform faster than any crypto. But it would require everyone using it to trust me 100%.